CAC 40 Rises With Political Turmoil In Focus

RTTNews | 1 day ago
CAC 40 Rises With Political Turmoil In Focus

(RTTNews) - French stocks were sharply higher on Tuesday despite Prime Minister Michel Barnier bracing for a no-confidence vote this week over a budget dispute.

After Barnier invoked a rarely used constitutional mechanism to push through the contentious 2025 budget without parliamentary approval, Marine Le Pen's far-right National Rally and the leftist New Popular Front both have filed no-confidence motions, setting the stage for a vote as early as Wednesday that could see Barnier's ouster.

The benchmark CAC 40 was up 72 points, or 1 percent, at 7,309 after finishing marginally higher the previous day.

Worldline SA shares were up 2.6 percent, extending gains from the previous session after the payments group attracted takeover interest from private equity firms.

read more
European Economic News Preview: Eurozone Final Composite PMI Due

European Economic News Preview: Eurozone Final Composite PMI Due

Final composite and services Purchasing Managers' survey results from the euro area and the UK are due on Wednesday, headlining a busy day for the European economic news. At 3.15 am ET, Spain's services Purchasing Managers' survey data is due. Economists expect the index to fall to 53.6 in November from 54.9 in the previous month.
RTTNews | 7h 43min ago
Aussie Falls As Weaker GDP Growth Spurs RBA Rate Cut Speculation

Aussie Falls As Weaker GDP Growth Spurs RBA Rate Cut Speculation

The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as slower domestic growth spurred bets that the Reserve Bank of Australia (RBA) is likely to cut interest rates in early 2025. Also, a private survey showed that China's services sector grew less than expected in November.
RTTNews | 8h 14min ago
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Wednesday, following the mixed cues from Wall Street overnight, as traders react to the political turmoil in South Korea, a deepening political crisis in France and faltering economic growth in China, with the South Korean market plunging over 2 percent. They also remain optimistic about an interest rate cut by the US Fed in December.
RTTNews | 9h 34min ago
Sensex, Nifty Set To Follow Asian Peers Lower

Sensex, Nifty Set To Follow Asian Peers Lower

Indian shares look set to open on a weak note Wednesday as investors await this week's key U.S. jobs report and Fed Chair Jerome Powell's remarks for clues on whether officials will cut interest rates in December.
RTTNews | 10h 30min ago